CEMEX Holdings Philippines Inc. (CHP) announced Thursday, Feb. 13, 2020, that sales increased by one percent in 2019, amounting to P23.6 billion, versus the comparable period in 2018.
For the fourth quarter, net sales decreased by three percent year-over-year due to lower volumes, as adverse weather conditions in the month of December affected Luzon and Visayas.
Cost of sales, as a percentage of sales, decreased by two percentage points in 2019, compared with those in 2018.
Operating expenses, as a percentage of sales, were lower by two percentage points year-over-year in 2019.
The decrease was due to lower distribution expenses resulting from supply chain optimization initiatives. For the full year 2019, CHP posted an operating earnings before interest, taxes, depreciation and amortization of P4.2 billion. (PR)